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    MIAX Sapphire Options Exchange authorized to offer options on Bitcoin ETFs including those from Grayscale and Bitwise

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    MIAX Sapphire Options Exchange is now authorised to offer options on three Bitcoin ETFs, including those from Grayscale and Bitwise. This aligns the exchange with others such as Nasdaq and the New York Stock Exchange. Receiving permit in September, Nasdaq was the first to list options on Bitcoin ETFs for US trading, soon followed by NYSE and Cboe. Investment managers believe this advancement could expedite Bitcoin adoption by major institutions and stimulate significant growth for holders. Bitcoin ETFs surged through $100 billion in net assets in November.

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    MIAX Sapphire Options Exchange has tweaked its rules so it can start offering options on three Bitcoin exchange-traded funds (ETFs), according to a report filed on Nov. 25. This means MIAX Sapphire can now list options on Grayscale Bitcoin Trust, the Grayscale Bitcoin Mini Trust, and Bitwise Bitcoin ETF.

    This puts MIAX Sapphire, which is part of Miami International Holdings’ range of US exchanges, in line with big-league guys like Nasdaq and the New York Stock Exchange, who also list options tied to Bitcoin ETFs.

    Also, you can find options for other goods like gold, silver, and platinum from MIAX Sapphire, besides Bitcoin.

    In September, the US Securities and Exchange Commission gave Nasdaq the thumbs up to list options on iShares Bitcoin Trust ETF. This was a first – the first time the agency said yes to options on Bitcoin ETFs for US trading.

    Soon after, the NYSE and Cboe also got the green light for similar offers in October. And then in November, the Commodity Futures Trading Commission and the Options Clearing Corporation also said yes to Bitcoin ETF options, allowing other exchanges to list these financial derivatives.

    On the first day these options were listed, contracts on BlackRock’s IBIT saw exposure worth almost $2 billion.

    Options are like contracts that give you the right to either buy or sell an underlying asset at a particular price. If someone doesn’t keep their end of the contract in the US, the Options Clearing Corporation steps in to settle the trade.

    Many investment managers reckon the US starting to offer Bitcoin ETF options will speed up adoption by big institutions and potentially unlock serious growth for Bitcoin holders.

    Jeff Park, the top dog of alpha strategies at Bitwise Invest, reckons listing Bitcoin ETF options on US exchanges, where the OCC protects traders against non-compliance, is a massive step forward for crypto markets and offers phenomenal opportunities for investors.

    In January, Bitcoin ETFs made their debut and broke through $100 billion in net assets in November.

    Who knows? Maybe Bitcoin’s heading back to $90K? According to the latest Hodler’s Digest, it could be.

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